Opening a pharmacy in South Yarra, VIC: Market & Competitor Analysis (2026)
South Yarra, VIC currently has 11 active pharmacies businesses. Based on ABS demographics and Google Places competitor data, South Yarra scores 59/100 on the Strategique Score™ for anyone weighing up opening a pharmacy here.
Choosing where to open or how to compete in South Yarra? Compare the nearby pharmacies businesses and local demographics before committing time or money. Check these market signals against your own costs, customers and plans.
South Yarra pharmacies market snapshot
| Strategique Score™ | 59/100 |
|---|---|
| Active pharmacies businesses | 11 |
| Local population (ABS) | 6,423 residents |
| Median weekly household income (ABS Census 2021) | $2,259/week |
| Data updated | July 2026 |
What this means for a pharmacies business in South Yarra
The spending power here changes what a pharmacy can stock and charge for. Weekly household income of $2,259 sits well above the Melbourne average, which points to demand for premium and discretionary categories — skincare, vitamins, private consultations — rather than just script volume. Treat this pricing or positioning recommendation as a hypothesis to test, not proof of premium pricing, profit, margins or guaranteed market share. Household income is context, not actual customer spending or willingness to pay. Operators who lean into retail margin and advisory services, not just dispensing, are better placed to capture this income profile than those competing purely on generic PBS turnover.
Household income is demographic context, not actual customer spending or willingness to pay.
Top-rated pharmacies in South Yarra
| Business | Rating | Reviews |
|---|---|---|
| South Yarra Pharmacy | 3.7★ | 45 |
| Chemist Warehouse South Yarra | 3.2★ | 89 |
| Priceline Pharmacy South Yarra | 3.4★ | 41 |
8 more pharmacies businesses are mapped in the full South Yarra report.
Opening a pharmacy in South Yarra: common questions
how many pharmacies are there in South Yarra
There are 11 pharmacies operating in South Yarra. Against a population of 6,423, that's roughly one pharmacy per 584 residents, which is a tight cluster for a suburb this size. The competitive density score sits at 60/100, but the effective density figure of 24/100 suggests real trading overlap between operators is lower than the raw count implies.
is South Yarra a good place to open a pharmacy
The data points to a cautiously positive verdict. The Strategique Score is 59/100 and market opportunity sits higher at 77/100, while competitor strength is only 40/100. That combination — decent headroom, weaker-than-expected incumbents — suggests room for a well-run operator, though it's not a clear-cut easy market given the 11 existing pharmacies.
who are the main pharmacy competitors in South Yarra
Chemist Warehouse South Yarra is the largest by reputation, with 89 reviews and a 3.2-star rating. South Yarra Pharmacy rates higher at 3.7 stars but has only 45 reviews, and Priceline Pharmacy South Yarra sits at 3.4 stars with 41 reviews. None scores above 3.7, which points to average service rather than dominant, well-loved incumbents.
what income level supports a pharmacy in South Yarra
Weekly household income in South Yarra is $2,259, well above the Melbourne median. That level of disposable income typically. Treat this pricing or positioning recommendation as a hypothesis to test, not proof of premium pricing, profit, margins or guaranteed market share. Household income is context, not actual customer spending or willingness to pay. Treat this pricing or positioning recommendation as a hypothesis to test, not proof of premium pricing, profit, margins or guaranteed market share. Household income is context, not actual customer spending or willingness to pay.
how do you start a pharmacy business in South Yarra
Given the mixed competitor ratings — none above 3.7 stars — a new operator should target a site near Toorak Road or Chapel Street where foot traffic is high but service reviews are weak. Focus early on services incumbents lack, such as extended consultation hours or vaccination clinics, and price front-of-shop stock to suit the $2,259 weekly household income.
Pharmacies markets in nearby suburbs
- Pharmacies in Adelaide CBD
- Pharmacies in Alstonville
- Pharmacies in Armadale
- Pharmacies in Balcatta
- Pharmacies in Ballarat
- Pharmacies in Bathurst
Other business markets in South Yarra
How will you stand out in South Yarra?
Compare nearby competitors and local demographics before choosing where to open, what to offer or which opportunity to test. This market snapshot is a starting point, not a business-specific recommendation.